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Installment Interest & CET/APR Calculator (Cuotas / Parcelas)

Compare interest methods: Price Table (SAC/Tabela Price), Simple Interest, Add-On, Canadian Rule. Calculate true effective APR/CET for Brazil, Mexico and Latin America installment loans (cuotas, parcelas).

$
cuotas
%
%
$

Result

Monthly / per-period payment

$1,004.12

Financed amount (principal - down)
$10,000.00
Monthly / per-period payment
$1,004.12
Effective Annual Rate (CET / APR)
34.49%
Total interest paid
$1,749.41
Processing / origination fees
$300.00
Total paid (principal + interest + fees)
$12,349.41

Calculated with engine v1.0.0

12 × $1,004.12. Effective APR: 34.4889%, total interest: $1,749.41.

Financed amount (principal - down)$10,000.00
Monthly / per-period payment$1,004.12
Effective Annual Rate (CET / APR)34.49%
Total interest paid$1,749.41
Processing / origination fees$300.00
Total paid (principal + interest + fees)$12,349.41

12 × $1,004.12

Installment schedule (Cuotas / Parcelas)
NºPrincipalInterestFeesTotalRemaining balance
1$746.62$257.50$300.00$1,304.12$9,553.38
2$765.28$238.83$0.00$1,004.12$8,788.10
3$784.41$219.70$0.00$1,004.12$8,003.68
4$804.03$200.09$0.00$1,004.12$7,199.66
5$824.13$179.99$0.00$1,004.12$6,375.53
6$844.73$159.39$0.00$1,004.12$5,530.80
7$865.85$138.27$0.00$1,004.12$4,664.96
8$887.49$116.62$0.00$1,004.12$3,777.46
9$909.68$94.44$0.00$1,004.12$2,867.78
10$932.42$71.69$0.00$1,004.12$1,935.36
11$955.73$48.38$0.00$1,004.12$979.63
12$979.63$24.49$0.00$1,004.12$0.00

Installment Loan Calculator: Uncover the True Cost of Credit

This calculator helps borrowers across Latin America compare the real cost of credit: credit cards, personal loans, store CDC financing, car loans and point-of-sale "parcelas / cuotas" plans. It supports methods used by Brazilian, Mexican, Colombian and Argentine lenders: Tabela Price (SAC), Add-On, Simple Interest, Canadian Rule and Flat Rate.

Monthly Payment (Price) = P × r·(1+r)n / [(1+r)n − 1]
CET / Effective APR = [(1 + Total Charges / Principal)365/Days − 1] × 100 %
P = principal, r = nominal monthly rate, n = installments

Many LATAM borrowers only check the monthly installment or "nominal monthly rate" and end up paying 2–3× the purchase price after fees and insurance. This calculator enforces apples-to-apples comparison by computing the CET — the Brazilian Central Bank-mandated effective annual rate that includes every charge.

Interest Methods: Price Table vs. Add-On

Retailers and banks deliberately mix methods because some show smaller-looking installments while hiding much higher total interest. Understanding the difference saves 20–50 % on typical purchases.

Tabela Price (SAC) vs. Add-On (Adicional)

Tabela Price (amortizing): each payment covers accrued interest first, then reduces principal — interest shrinks over time. Same math as US mortgages.

Add-On (flat rate): total interest is charged upfront on the full original principal for the entire term, then divided by installments. You keep paying interest on money you already repaid.

Same 2,000 BRL, 48 months, 2.5 % monthly nominal:

  • Price: ~BRL 71.70 × 48 = BRL 3,442 total → ~BRL 1,442 interest
  • Add-On: BRL 91.67 × 48 = BRL 4,400 total → ~BRL 2,400 interest

That is BRL 958 more (66 % extra interest) solely for choosing Add-On in the fine print.

Hidden Fees: IOF, Origination, Insurance

Nearly every LATAM loan adds fees beyond stated interest: IOF (Brazil: 0.38 %/day + 3 %/year), origination (1–8 %), registration, credit life insurance (0.1–0.5 %/month), late-payment penalty (up to 2 % in Brazil) and collection costs. All must go into CET/APR for a fair comparison.

How to Use: LATAM Markets (BRL / MXN / ARS / COP)

  1. Pick currency (BRL, MXN, ARS, COP, USD, PEN, CLP).
  2. Enter cash price or principal borrowed.
  3. Choose method: Price, Add-On, Simple, or Canadian Rule.
  4. Input nominal rate and term; add fees as amount or %.
  5. Compare: installment, total payment, interest, and effective annual CET/APR.

Brazil: R$ 4,000 phone, 12× parcelas, 3.9 %/month nominal, 2 % IOF, R$ 80 registration, Add-On (retail store card 2026).

  • Principal: R$ 4,000 · Add-On interest: R$ 1,872
  • IOF: ~R$ 152 · Registration: R$ 80
  • Total repay: R$ 6,104 · Monthly: ~R$ 509
  • Effective CET ≈ 78–82 %/year — 2× the nominal rate due to fees + Add-On paying interest on repaid principal.

Taking a CDC loan at 2.2 %/month (Price, 1 % origination) drops CET to ~32–34 %/year and saves ~R$ 1,500.

CET / CAT / TEA: Trust This Number, Not the Nominal Rate

Brazil's CET (BACEN Circular 4.015) mandates every charge be disclosed at the same font size. Mexico uses CAT; Colombia requires TEA. When offers differ, always trust CET/CAT/TEA — never the nominal monthly rate.

YMYL Disclaimer

This calculator provides educational illustrations only. It is not financial advice, a credit offer, an endorsement, or a substitute for reading the full legally binding credit contract and CET disclosure from the actual institution. Rates, IOF, CAT/TEA/CET rules, insurance, penalties and consumer-protection laws vary by country (Brazil, Mexico, Colombia, Argentina, etc.) and lender type (bank, Sofom, retail card, fintech) and change often. Verify all figures with the lender, compare ≥3 offers, and consult an independent advisor or consumer agency (Procon, Profeco, SIC) before signing. Actual billed amounts may differ due to rounding, day-count, payment timing or undisclosed charges.

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